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28/02/2002
Construction slowdown curtails Readymix profits
Irish concrete and cement group Readymix, has revealed that pre-tax profits were flat at €25.7m euro last year, mainly because of a 'considerable slowdown' in construction activity in the Republic of Ireland.
The company also revealed that market conditions in Northern Ireland, as well as those in the Isle of Man and British operations, were more stable.
Group turnover was down four per cent at €222m, while earnings per share were nearly unchanged at just under 20 per cent.
The company also noted a slowdown in the residential sector, despite a record year for housing completions.
The company said the rate of cost increases moderated in 2001, but still remained high while it cited employee costs, insurance and an increase in the price of cement.
For the year ahead, Readymix predicted that construction activity might decline further in the first half, but the outlook for the second half was more positive. (MB)
The company also revealed that market conditions in Northern Ireland, as well as those in the Isle of Man and British operations, were more stable.
Group turnover was down four per cent at €222m, while earnings per share were nearly unchanged at just under 20 per cent.
The company also noted a slowdown in the residential sector, despite a record year for housing completions.
The company said the rate of cost increases moderated in 2001, but still remained high while it cited employee costs, insurance and an increase in the price of cement.
For the year ahead, Readymix predicted that construction activity might decline further in the first half, but the outlook for the second half was more positive. (MB)
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
